Inglewood Federal Savings & Loan Ass'n v. Richardson

The complaint and counter-claims herein assert several causes of action designed to litigate various questions of management and control of plaintiff Savings and Loan Association. Plaintiff is chartered under Section 5 of the Home Owners’ Loan Act of 1933, 12 U.S.C.A. § 1464 . The Court has directed that the several causes of action stated in the complaint and counter-claims be dismissed because jurisdiction to determine the various controversies is exclusively with the Federal Home Loan Bank Board. The Court’s Memorandum was filed April 16, 1954. The formal order of dismissal has not been signed and the Court is now concerned with its duties and powers respecting compensation for a conservator and his attorney appointed by the Court to act during a brief pendente lite period. This action was originally filed in the Superior Court of the State of California where a temporary restraining order was issued prohibiting defendants from doing several threatened acts. The suit was removed to this Court. Primarily, the case involves a quarrel between two factions, each seeking control of Inglewood Federal Savings and Loan Association.

Following removal and after a period of less than one…